MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Dec 7
VEGOILS-Market Factors to Watch Dec 7
07/12/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures hit their highest level in four and a half years on Tuesday, reversing losses earlier in the day, after data indicated that output fell at the start of the month.
* U.S. soybean futures rose on Tuesday with another round of export deals with China and concerns about dry weather in Argentina pushing prices higher, traders said.
* Oil prices on Tuesday ended lower for the first time since OPEC agreed on Nov. 30 to cut output, as data showing record high production in the producer group fed skepticism that it would be able to reduce supplies.
MARKET NEWS
* Oil futures snapped a four-day rally on Tuesday on signs of higher output while the euro slipped from a three-week high ahead of a Thursday meeting of the European Central Bank.
RELATED
> Ukraine strengthening GMO export control to defend producers
> JBS shares surge on spin-off plan of international units in U.S.
> Vale-BHP's Samarco expects preliminary license in first quarter
> Energy Transfer keeps up legal pressure after pipeline defeat
> Oil firms and carmakers diverge in costly debate
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Nov 1-25 palm oil export data on Dec 10.
> Cargo surveyor SGS releases Malaysia's Nov 1-25 palm oil export data on Dec 10.
Palm, soy and crude oil prices at 0121 GMT
Contract Month Last Change Low High Volume
MY PALM OIL DEC6 0 +0.00 0 0 0
MY PALM OIL JAN7 0 +0.00 0 0 0
MY PALM OIL FEB7 0 +0.00 0 0 0
CHINA PALM OLEIN MAY7 6426 +52.00 6396 6460 482300
CHINA SOYOIL MAY7 7208 +22.00 7182 7260 314048
CBOT SOY OIL JAN7 37.83 +5.40 37.74 37.85 518
INDIA PALM OIL DEC6 566.10 +5.40 555.60 568.5 1822
INDIA SOYOIL DEC6 736.6 -0.20 732.2 741.25 13170
NYMEX CRUDE JAN7 50.76 -0.17 50.70 51.09 9215
Palm oil prices in Malaysian ringgit per tonne
CBOT soy oil in U.S. cents per pound
Dalian soy oil and RBD palm olein in Chinese yuan per tonne
India soy oil in Indian rupee per 10 kg
Crude in U.S. dollars per barrel
FUNDAMENTALS
* Malaysian palm oil futures hit their highest level in four and a half years on Tuesday, reversing losses earlier in the day, after data indicated that output fell at the start of the month.
* U.S. soybean futures rose on Tuesday with another round of export deals with China and concerns about dry weather in Argentina pushing prices higher, traders said.
* Oil prices on Tuesday ended lower for the first time since OPEC agreed on Nov. 30 to cut output, as data showing record high production in the producer group fed skepticism that it would be able to reduce supplies.
MARKET NEWS
* Oil futures snapped a four-day rally on Tuesday on signs of higher output while the euro slipped from a three-week high ahead of a Thursday meeting of the European Central Bank.
RELATED
> Ukraine strengthening GMO export control to defend producers
> JBS shares surge on spin-off plan of international units in U.S.
> Vale-BHP's Samarco expects preliminary license in first quarter
> Energy Transfer keeps up legal pressure after pipeline defeat
> Oil firms and carmakers diverge in costly debate
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Nov 1-25 palm oil export data on Dec 10.
> Cargo surveyor SGS releases Malaysia's Nov 1-25 palm oil export data on Dec 10.
Palm, soy and crude oil prices at 0121 GMT
Contract Month Last Change Low High Volume
MY PALM OIL DEC6 0 +0.00 0 0 0
MY PALM OIL JAN7 0 +0.00 0 0 0
MY PALM OIL FEB7 0 +0.00 0 0 0
CHINA PALM OLEIN MAY7 6426 +52.00 6396 6460 482300
CHINA SOYOIL MAY7 7208 +22.00 7182 7260 314048
CBOT SOY OIL JAN7 37.83 +5.40 37.74 37.85 518
INDIA PALM OIL DEC6 566.10 +5.40 555.60 568.5 1822
INDIA SOYOIL DEC6 736.6 -0.20 732.2 741.25 13170
NYMEX CRUDE JAN7 50.76 -0.17 50.70 51.09 9215
Palm oil prices in Malaysian ringgit per tonne
CBOT soy oil in U.S. cents per pound
Dalian soy oil and RBD palm olein in Chinese yuan per tonne
India soy oil in Indian rupee per 10 kg
Crude in U.S. dollars per barrel